A Real Estate Investment Company

Green Leaf Partners & 29th Street Capital Close Tempe, AZ Acquisition

Monday, February 13th, 2012

Green Leaf Partners and 29^th Street Capital are pleased to announce the closing of Pine Shadows Apartments, a 272 unit apartment complex located in Tempe, AZ.  The ownership plans to rebrand the property under the Green Leaf umbrella as Green Leaf Sienna and will renovate the common areas, building exterior and some select interior units.

“With the Green Leaf Apartment Fund  now over 50% invested we have built a diversified portfolio and stable income stream for investors.  The occupancy of the fund is above 95% and is performing at projected levels. Green Leaf Sienna will be a solid addition to the other assets already in the fund,”-  Stan Beraznik, president of 29^th Street Capital.

The project was financed with a loan from CBRE and the balance came from equity raised as part of the Green Leaf Apartment Fund I venture launched in the beginning of 2011.

“Arizona is a market we are favorable on and we are excited to purchase in Tempe and include Pine Shadows in our existing portfolio of in-house managed properties. We look forward to growing our presence in Arizona over the next few years.   Consistent with our business plan, we will make capital improvements to both the exterior and interiors of the property to keep it competitive and continue to make it an enjoyable place for residents to live,” – Michael O’Neil, CEO and co-founder of Green Leaf Partners.

Green Leaf Partners is focused on growing the existing portfolio of 2500+ apartment units to 10,000 on acquisitions located in larger US markets in the West, including Arizona, California, Nevada, Colorado, Oregon, Utah, and Washington.

Green Leaf Partners and 29th Street Capital Close Denver Acquisition

Wednesday, November 2nd, 2011

Green Leaf Partners and 29th Street Capital are pleased to announce the closing of Seven Oaks Apartments a 142 unit apartment complex located in the South East quadrant of Denver close to the Lowry Redevelopment. The ownership plans to rebrand the property under the Green Leaf umbrella, build a new 1200 square foot free standing management office, replace all of the windows and sliding glass doors, replace all roofs, add solar panels for common area electricity, and repaint the exterior.

“With the Green Leaf Apartment Fund I now 50% invested we have built a diversified and stable stream of cash flow. Our Fund occupancy is at over 95% and is performing at projected levels and Green Leaf Oaks will be another solid addition to our asset base” said Stan Beraznik, president of 29th Street Capital.

The project was financed with a loan from CBRE and the balance came from equity raised as part of the Green Leaf Apartment Fund I venture launched earlier this year. 

“Seven Oaks is a solid B asset in an expanding market. Through our capital improvement program we plan to significantly reduce operating costs at the property and increase the quality of the asset to meet the competition. We are excited to buy in Denver and look forward to growing here over the next few years,” said Michael O’Neil, CEO and co-founder of Green Leaf Partners.

Green Leaf Partners is focusing its acquisition efforts to grow its existing portfolio to 10,000 units on properties located in larger US markets in the west including Arizona, California, Nevada, Oregon, Utah and Washington.

Green Leaf Partners & 29th Street Capital Close Arizona Acquisition

Wednesday, September 7th, 2011

Green Leaf Partners and 29th Street Capital are pleased to announce the closing of Shadow Creek Apartments a 266 unit apartment complex located on the Tempe/Mesa border in the Phoenix MSA. The ownership plans to rebrand the property under the Green Leaf umbrella, renovate and add square footage to the management office, upgrade the tennis courts and pool areas, exterior paint, upgrade some interiors and potentially add solar panels for common area electricity.

“This acquisition continues to strengthen our Fund’s emphasis on properties that have strong current cash flow along with the ability to improve operations and value through a moderate capital improvement plan.” -Stan Beraznik, president of 29th Street Capital.

The project was financed with a loan from CBRE and the balance came from equity raised as part of the Green Leaf Apartment Fund I venture launched earlier this year.

“The current spreads between in place cap rates and long term debt financing along with a long history of high occupancy at the property allow for stable in place cash flows from the outset. Additionally we are very excited to make an infill acquisition in a strong performing Phoenix submarket where we see long term potential for value appreciation,” -Thomas Hall, CFO and co-founder of Green Leaf Partners.

Green Leaf Partners is focusing its acquisition efforts to grow its existing portfolio to 10,000 units on properties located in larger US markets in the west including Arizona, California, Nevada, Oregon, Utah and Washington.

Green Leaf Partners & 29th Street Capital Close REO Acquisition

Wednesday, August 10th, 2011

Green Leaf Partners and 29th Street Capital are pleased to announce the closing of Northgate Villas Apartments a 116 unit apartment complex located in Reno, NV. The ownership plans to rebrand the property under the Green Leaf umbrella, renovate the management office, upgrade the landscaping, exterior paint, repair roofs, and do a moderate upgrade on some interior units.

“We are excited to close this acquisition as it provides great current income with some solid upside through our capital renovation plan. It was also nice to find an occupied REO asset which allowed us to take advantage of the great fixed rate debt that is in the market,” said Stan Beraznik, president of 29th Street Capital.

The project was financed with a loan from Northmarq through their Fannie Mae DUS correspondent, Amerisphere, and the balance came from equity raised as part of the Green Leaf Apartment Fund I venture launched earlier this year.

“With the attractive debt financing and high in place cap rate we are able to get a very solid current cash return along with the potential for capital appreciation given the below market rents and discounted per unit REO pricing,” said Thomas Hall, CFO and co-founder of Green Leaf Partners.

Green Leaf Partners is focusing its acquisition efforts to grow its existing portfolio to 10,000 units on properties located in larger US markets in the west including Arizona, California, Nevada, Oregon, Utah and Washington..

About: Green Leaf Partners (“GLP”) is a vertically integrated real estate investment company based in Northern California that acquires, renovates and manages apartment properties in select markets in the United States. The primary focus has been to create value through a three-pronged approach of intensive management, asset repositioning and utility cost reductions through energy efficient retrofits and proactive energy-rate management on properties located in unregulated states. 29th Street Capital was founded in 2008 and is focused on opportunistic investments in all classes of commercial and residential real estate. Learn more about GLP at www.greenleafapartments.com and 29th Street Capital at www.29thstreetcapital.com

Green Leaf Partners & 29th Street Capital Close Acquisition

Wednesday, June 1st, 2011

Green Leaf Partners and 29th Street Capital are pleased to announce the closing of Meadowood Apartments a 64 unit complex located in Vacaville, CA. The ownership plans to rebrand the property under the Green Leaf umbrella, add washer/dryer connections in select units, and upgrade the amenity package.

“We are excited to close our first project together and feel that we are getting some nice current income along with the solid rental income growth fundamentals of Northern California,” – Stan Beraznik, president of 29th Street Capital.

The project was financed with a loan from CBRE/Freddie Mac and the balance came from equity raised as part of the Green Leaf Apartment Fund I venture launched earlier this year.

“This is a nice core B asset for our Northern California portfolio. We have been focused mostly outside of California over the past 6-7 years so it is great to be find something with good current and long term fundamentals in our backyard.” – Michael O’Neil, president and co-founder of Green Leaf Partners.

Green Leaf Partners is focusing its acquisition efforts to grow its existing portfolio to 10,000 units on properties located in larger US markets in the west including Arizona, California, Nevada, Oregon, Utah and Washington.

Green Leaf Partners receives $20 million equity funding commitment

Monday, January 24th, 2011

Green Leaf Partners, LLC, is pleased to announce today that it has received a commitment for up to $20 million of general partner equity from 29th Street Capital.

“Green Leaf Partners signifies a best-in-class multifamily investor whose focus on green energy efficient retrofits exemplifies the social consciousness that tenants as well as our investors are seeking,” said Stan Beraznick, president of 29th Street Capital.

29th Street has invested over $40 million in distressed real estate over the past two years and sees the opportunity in multifamily as the next platform for significant growth in the coming five years.

“We are excited to have 29th Street Capital as a partner. We believe that their initial investment in Green Leaf Partners, LLC’s investment platform will further augment our ability to raise additional institutional equity to take advantage of the current dislocation in the market and to capitalize quickly on opportunities as they are presented,” said Michael O’Neil, president and co-founder of Green Leaf Partners.

Green Leaf Partners is focusing its acquisition efforts to grow its existing portfolio to 10,000 units on properties located in larger US markets in the west including Arizona, California, Nevada, Oregon, Utah and Washington.

About Green Leaf Partners: Green Leaf Partners (“GLP”) is a vertically integrated real estate investment company based in Northern California that acquires, renovates and manages apartment properties in select markets in the United States. The primary focus has been to create value through a three-pronged approach of intensive management, asset repositioning and utility cost reductions through energy efficient retrofits and proactive energy-rate management on properties located in unregulated states. 29th Street Capital was founded in 2008 and is focused on opportunistic investments in all classes of commercial and residential real estate.

Good Times Ahead for GreenLeaf Apartments and our Residents!

Monday, November 15th, 2010

The last 3 years have been challenging times for all of us, the owners, the residents and our communities. Fortunately we are beginning to see the proverbial light at the end of the tunnel. Occupancy has picked up and stabilized at most of our apartments which has increased our cash flow to the point that we can begin again to invest capital back into our buildings. This cyclical reversal comes at a welcome time as tight budgets at the resident level tend to lead to tight budgets at the ownership level, which then creates a negative atmosphere at the property level as money is not available to keep the properties at above standard conditions.

We at Greenleaf understand this symbiotic relationship as it is one of the key components to our overall investment and management philosophy. We need to create a healthy working relationship with our residents and empathize with their situations but at the same time they need to understand as owners that we rely on their rent checks to reinvest in the community they live in.

Look for great things to come to our communities in 2011!